₦airaland Forum

DeRuggedProf:

Oando PLC‏Verified account @Oando_PLC 26m26 minutes ago

8: best practices urge all Media houses to reach out and obtain the Company’s position on the matter prior to making any publication.
0 replies 3 retweets 3 likes
Oando PLC‏Verified account @Oando_PLC 26m26 minutes ago

7: Oando’s corporate communications team is always available to respond to any enquiries by members of the media and according to global
0 replies 4 retweets 3 likes
Oando PLC‏Verified account @Oando_PLC 26m26 minutes ago

6: in the said correspondence and will be happy to provide full disclosure of the outcome as soon as the SEC review is completed.
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Oando PLC‏Verified account @Oando_PLC 26m26 minutes ago

5: The Company is fully co-operating with the SEC and providing all appropriate clarifications and rebuttals on the matters raised
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Oando PLC‏Verified account @Oando_PLC 27m27 minutes ago

4: misleading and defamatory claims to do with various matters that had received Board, shareholder and where required SEC approval.
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Oando PLC‏Verified account @Oando_PLC 27m27 minutes ago

3: The Company understands that the SEC is in receipt of correspondence containing in our opinion unsubstantiated,

Oando PLC‏Verified account @Oando_PLC 27m27 minutes ago

2: stating that Oando PLC is being investigated by the SEC in response to petitions filed by some foreign investors in Oando.
0 replies 3 retweets 2 likes
Oando PLC‏Verified account @Oando_PLC 28m28 minutes ago

1: Our attention has been drawn to a report by Channels TV released this morning, Friday the 14th of July, 2017

All I wish to see is Oando taken away from Wale Tinubu and Co. They have completely mismanaged Oando. If it was a staff that was responsible for their useless decisions, they would have sacked that staff.

Please in all fairness let Wale, step aside pending a full investigation. He is a blockage to the growth of Oando.

redsox11:
Couldn't resist... I'm shutting down my platform now. Enough for the week. Free trade.

Nice

BinaryRocks:

If you bought in european session u would have made money and still resell after break even. Go and look at USDCAD, Its Friday remember!

As a trader when major news comes you lock profits. Both ways I profit, which music are we dancing to.

This how I trade European session, usd/chf buy....locks profit b4 news, Opens nzd/usd buy tight sl ahead of news (5min)

Zhirinovsky:
how did I miss my darling forte oil?

FO Knows its people and we know ourselves,

stcool:
MUTHER OF BULLS falling on $...Don't miss out.

Already said No sell USD today... Buy $ only.

Wait till Monday US open to confirm if sell possible. $ swing trade is bullish..

Bolutumiii:
Hi traders, most times when I put off my system nd put it on again, most of my works are gone, nd I'll ve to start all over again, drawing trendlines, supp nd resistance e.t.c. Pls any help. I use mt4

Uninstall MT4, clear your system cache and reinstall. Hopefully that should help.

MUTHER OF BULLS falling on $...Don't miss out.

Why is nobody buying USD....That is when to buy. European opening pushing euro down.
How do I know?

Holding a buy...waiting for 4hr bullish close above yesterday's high confirms Bulls are in charge. Us earning season report. positive news expected - Bullish for dollar. +ve numbers expected also from CPI

veecovee:
www.nairaland.com/3560501/holineness-righteousness-revival-daily-messages/5#58376556

Pastor you are late...we already shared the grace!

courage89:
Interim dividend?

How much are u expecting? Better look else where.

Hello All, saw this and taught I should share. Read - How to pick quality stocks using the CAN SLIM strategy

http://economictimes.indiatimes.com/wealth/invest/how-to-pick-quality-stocks-using-the-can-slim-strategy/articleshow/57957480.cms

http://www.investors.com/ibd-university/can-slim/

"Once you buy a stock, when should you sell? Many investors simply don't have an exit strategy — and their returns suffer accordingly. But you can use time-proven sell rules to make a huge difference in your portfolio."

emmanuelewumi:
Bankers can be funny if you not confident and know what you are doing.

I was in my bank this morning to get a loan, the officer first asked of where I work. I told her that I am self employed, then asked for the name of my business which I gave to her.

She then asked for my account number and that of my business, my business and I both have an account with First Bank.

After she saw the turnover on the account she was impressed, asked for the value of loan I needed and duration of the payment.

She then asked for collateral, I didn't want to use my shares, but my Treasury Bill Investment as collateral.

She said for her to ask to proceed with the loan application my Treasury Bill MUST be converted to fixed deposit. Because there was no way she could place a lien on Treasury Bill, since it is in custody of Central Bank.

I reminded her that what I have in NTB is 5 times the value of the loan, and when the TB matures it would be paid back into the account.

Truth is some of these bank employees do not understand how things function. Or maybe its just about everyone saving their job.

DeRuggedProf:
It is not a loss, it will raise the stock's value immensely....

Man shall not live by dividends alone...

DeRuggedProf:

Even a hedge fund wont afford that kind of loss!

DeRuggedProf:
For his sake, I pray conoil should dive to N15 so he can have as many units as he wish.....

You are a wiked pikin

BullBearMkt:
...I like that. Conoil faithful.

...Not faithful! just the value in it! If I can get ConOil @ N22 and I am sure of N3 dividend next year am Ok. I can jijo with other stocks.

BullBearMkt:
...it will be a good play if the stock can find it's bottom fast. If not, it is eyeing support at 22.5

@ this price I would divert money meant for FBHN add more ConOil.

veecovee:
i thank God that i left on time, imagine going for N3.10 dividend and loosing almost N15 in price

...Not all stocks are for JIJO

May & Baker I am only comfortable below N1.50

First Bank Below - N5.50

Dangote Flour Below - N4.00

Else my money would wait.

The guy above you are blocking space pls take to appropriate section

bolabiyi:
thank you for reminding me that im broke....

For peeps that need oil news to trade:

http://www.marketwatch.com/story/oil-prices-rebound-as-some-see-last-weeks-selloff-as-overdone-2017-07-10

"“The belief is that rising Libyan and Nigerian output are undermining both the efforts at rebalancing the market and the unity of the OPEC/non-OPEC coalition,” Michael Lynch, president of president of Strategic Energy & Economic Research, told MarketWatch."

ibifemi:
Hello All,
Pls how do I stop my trade order on metatrader 4? Pls this is urgent. Thank you

Pls ensure to always use stop loss, since you don't know much to avoid stories that touch. Don't let margin call fall on your account

priceaction:
Does anyone using forextime naira ? Apart from that shina guy? I want to test it for a few bucks. May be starting with their live cent account. Does it have all the instruments ( may be I will download demo). And what about their withdrawal (any charges)? .I never traded with any Nigerian broker, not anyone. But I just like to play with them but I don't want any stories that touches.

FXTM is Good! I have not had issues with them.

veecovee:
I sold my conoil above N40, and at a lost of N80,000, I did this the moment I noticed a bad body movement of the stock...what else is the cause, if not the current oil price fluctuation?

The cause is not oil price fluctuations, but may be as a result of the litigation's discussed above, could be a shake out. Also don't forget some people may have bought this stock over along time. Even @ the current price they are still in profit.

rebekah2011:
Just want to chip my own little point. He is not against you having Conoil in your portfolio, but he has to be commended for taking the pains to glean the financials and bring the red flags that could negatively affect the coy in future to the front burner. The question is what if the judgement is against Conoil? What will you do?

I already read through the financials before...knew about the litigation. Its always in all Financial statements, every company has litigation, some in favour and some against just that may be ConOil's is big. But I am comfortable with their business and cash flow.

MrTease:
"The Company is currently in litigation with one of its former suppliers of Automotive Gas Oil (AGO). The
commercial dispute, which arose in 2008 has been through the High Court and Court of Appeal, and is currently
at the Supreme Court. The amount being claimed by the supplier as breach of contract is $43,262,497 (N13.5
billion). Whereas the judgments of the lower courts have been in favor of the supplier, the Directors, on the
advice of the external solicitors, are of the opinion that the judgment of the lower court will be upturned by the
Supreme Court.
There are also a number of other legal suits outstanding against the Company estimated at N4.5 billion. On the
advice of the Solicitors, the Board of Directors is also of the opinion that no material losses are expected to arise
therefrom. However, a provision of N2.3billion has been made in these financial statements to mitigate any
possible future loss.
The Company is also in litigation with Nimex Petrochemical Nigeria Limited, one of its former suppliers of
products. In 2007, Nimex sued the company for US$3,316,702.71 and US$127,060.62 being demurrage and
interest incurred for various supplies of petroleum products. The Federal High Court gave judgment in favour
of Nimex in the sum of US$13,756,728 which included the amount claimed and interest at 21% till judgment was
delivered and also granted a stay of execution with a condition that the judgment sum be paid into the court.
The court also granted a garnishee order against First Bank Plc to pay Conoil’s money with the bank into the
court. Conoil has appealed against the judgment to the Court of Appeal in Abuja. The appeal is pending and the
Directors, on the advice of the external solicitors, are of the opinion that the judgement of the Federal High
Court will be upturned. The current value of the judgment sum is N4.3billion. However, a provision of N675m
has been made in these financial statements to mitigate any possible future loss"

What happen's if full provisioning for the full value of these contingent liabilities has to be made. Don't have a dog in this fight. Reviewed the financials and concluded that I can't buy Conoil. Don't know about you.

OK...I own the stock and would accumulate more.

veecovee:
oil price is fluctuating...simple

How does oil price fluctuating affect ConOil's cash flow, study their balance sheet. They are different from O&O

Coolcash1:
Thanks for pointing this out (i mean the contingent liability). I don't know how my eagle eyes missed it. The two major cases are with Vitol S A and Nimex Petrochemical Nigeria Ltd where the former is now in the supreme court while the latter is at appeal stage. The total estimation of liability for these cases is N3.75b which represents 20% of its shareholders funds. So, how will it now wipe out the entire shareholders funds?

Please lets always be careful and mindful of how we present information in the public space in such a way that doesn't cause panic or fear in people. A diligent presentation of your submission supported with figures would have made more meaning.

For a company sitting on over 40 Billion Naira in Cash & Bank balances I dont know why N3.75b should bother me.

MrTease:
Huge Contingent Liabilities from lawsuits that can also wipe out shareholder's funds. Judgements have already been given against the company in lower courts. Kindly review last year's financial results.


http://www.nse.com.ng/Financial_NewsDocs/18498_CONOIL_PLC_-_AUDITED_DEC_2016_FINANCIAL_STATEMENTS_JUNE_2017.pdf

page 54

ConOil is solid, don't know why the scare. I would buy more @ lower price. Company is making profit, good cash balance and cash flow. Judgement or not, no company would pay out the money once. Read well provisions where also made.

OBAGADAFFI:
Baba God just save you from M&B trap @N3.

If you enter again na yo sabi.

M&B that had offer of over 6 Million last week. Until I see huge volume dry up. Its wash-wash